Brokerages Set DiamondRock Hospitality (NYSE:DRH) Price Target at $9.92

Shares of DiamondRock Hospitality (NYSE:DRH) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $9.92.

Several equities research analysts have recently issued reports on the company. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Truist Financial reduced their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company reduced their price target on DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 5th.

Institutional Investors Weigh In On DiamondRock Hospitality

Several hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in DiamondRock Hospitality in the second quarter valued at $1,271,000. Dana Investment Advisors Inc. boosted its stake in shares of DiamondRock Hospitality by 8.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 822,407 shares of the real estate investment trust’s stock worth $6,949,000 after acquiring an additional 65,861 shares in the last quarter. Truist Financial Corp boosted its stake in shares of DiamondRock Hospitality by 14.1% during the 2nd quarter. Truist Financial Corp now owns 55,605 shares of the real estate investment trust’s stock worth $470,000 after acquiring an additional 6,886 shares in the last quarter. Quarry LP boosted its stake in shares of DiamondRock Hospitality by 2,093.9% during the 2nd quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 3,769 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of DiamondRock Hospitality during the 2nd quarter worth about $178,000.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $9.05 on Monday. The firm has a market cap of $1.90 billion, a PE ratio of 25.14, a P/E/G ratio of 4.07 and a beta of 1.60. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $8.39 and a two-hundred day simple moving average of $8.66. DiamondRock Hospitality has a 1-year low of $7.33 and a 1-year high of $9.99.

DiamondRock Hospitality (NYSE:DRH) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The company had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. DiamondRock Hospitality’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. On average, equities analysts anticipate that DiamondRock Hospitality will post 0.98 EPS for the current year.

DiamondRock Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Monday, September 30th. DiamondRock Hospitality’s payout ratio is 33.33%.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.